Wednesday, May 28, 2008

SBA - Experience Wanted

No, I'm not referring to the open position at the SBA now that Small Business Administration chief Steven Preston has been nominated to lead HUD.

These days, SBA lenders increasingly require a prospective borrower to have relevant experience before approving a business acquisition loan for either a franchise or a non-franchised operation according to New Jersey Biz.

In a pre-screen I just completed, each of the SBA lenders I contacted expressed concern over the prospective buyer's lack of industry related experience as part of their respective decisions to decline interest in the acquisition loan.

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About Me

Marshall Lebovits has over 25 years of experience in the secured financing industry. Marshall advises on a wide variety of asset based funding solutions for businesses throughout the USA. If your business has receivables, inventory or equipment and needs over $50 thousand of financing, please contact me at 310-344-2522.